The figure represents a growth of 193% compared to Second Quarter Earnings 2020.
(Moody’s is working to improve Grupo Aval’s rating outlook.)
It was reported by Grupo Aval At the end of the second quarter, it recorded an attributable net profit of $950,000 million, by 20% in the quarter and 193% compared to the end of the same period in 2020.
In the second quarter of the year, he said that the trend of recovery driven by the dynamics of consumer portfolio growth continues, especially in products such as bills of exchange and mortgages, But with better trading performance for products like credit cards and free investing compared to previous quarters.
(two UK ratings for Grupo Aval).
The cost of risk continues on a positive trend and the non-financial sector contributes positively to the quarter’s results.
Total portfolio grew nearly 6% during the first half of the year, and total assets and deposits grew 6.6% in the same period.
The 90-day overdue portfolio index (3.4%) improved 14 basis points compared to the end of 2020 And it remained stable when compared to the index recorded in the first quarter of 2021.
The cost of risk (portfolio allocation/average portfolio) for the first semester (2.1%) improved 60 basis points compared to the cost of risk for the first semester of 2020 and by 110 basis points compared to the cost of risk for the second semester. year 2020.
The net interest margin (NMI) was 4.8% in the semester compared to 5.1% in the first semester of 2020 and 5.2% in the second semester of 2020. The NMI portfolio was 5.8% during the first half of 2021 compared to 6.0% in the first half of 2020 and 5.8% in the second half of 2020.
The regulatory capital ratios (Level 1) of Aval banks, which are now reported under Basel III, have grown between 130 and 310 basis points in the past twelve months.
Efficiency on average assets was 3.2% in the quarter compared to 3.1% in the first quarter of the year.
We continue to maintain high levels of liquidity as evidenced by our deposits/net portfolio ratio (110%), and our cash/deposits ratio (15.8%).
finally, Corficolombiana and Porvenir contributed significantly to the group’s results.
Grupo Aval is the main financial conglomerate in Colombia, and due to its operations in BAC Credomatic and Multi Financial Group, the main banking group in Central America. Grupo Aval operates through four commercial banks in Colombia (Banco de Bogotá, Banco de Occidente, Banco Popular and Banco AV Villas), the largest manager of private pension and termination funds in Colombia (Porvenir), and the largest financial company from Colombia (Corficolombiana).
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